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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenue        
Interest income $ 1,669 $ 1,574 $ 5,308 $ 5,419
Interest expense        
Line of credit (108) (15) (275) (28)
Mortgages payable (20) (26) (71) (33)
Total interest expense (128) (41) (346) (61)
Net interest income 1,541 1,533 4,962 5,358
Late fees 5 41 41 54
Total revenue, net 1,546 1,574 5,003 5,412
Provision for (recovery of) loan losses 5 (8) 4 (134)
Operations expense        
Mortgage servicing fees 265 286 825 924
Asset management fees 71 84 223 265
Costs from Redwood Mortgage Corp. 148 185 502 676
Professional services 224 275 817 885
REO, net (Note 5) 83 51 425 23
Other 9 1 40 18
Total operations expense 800 882 2,832 2,791
Net income 741 700 2,167 2,755
Limited partners (99%) 734 693 2,146 2,727
General partners (1%) $ 7 $ 7 $ 21 $ 28